Buy Low Sell High, is the Strategy of most investors. Why not do the same thing when you buy your homestead?.
Your home is typically your most valuable asset you will ever own. It goes to reason that buyers should use the same mantra to buy their home that investors use to get rich on. Due to the increased number of foreclosures in today’s sales market it is the perfect opportunity to buy low. There is an added benefit to buying today and that is the interest rates are also at an all time low. Interest Rates will not stay low for long with the projected economy.
If you have to sell your home at a discount you may be able to justify this action if the home you are buying has more equity than you have to give up to make the deal. I listed a home for sale in Kessler Park many years ago. I was the twelfth agent the owners interviewed to sell their home. When I asked the sellers to tell me about the home they were on contract to buy they lit up. It did not take long to realize that their new home had $50,000.00 equity and we were at a stale mate on a $10,000.00 reduction of their present home. They wanted to sell their home for $10,000.00 more than the market was paying. I simply asked, why gamble loosing the $50,000.00 equity for $10,000.00 that does not exist? The husband and wife looked at each other and proceeded to sign my listing agreement. They saw clearly that the $50,000.00 equity was more valuable to them than the $10,000.00 that did not exist at that time.
You can use this process to improve your equity in your homestead or buying and selling investment properties. We at CENTURY 21 Judge Fite Management Company consider it a pleasure to service your Property Management needs.